Pros And Disadvantages Of Unemployment

The current generations in the workplace today are Traditionalists, Baby Boomers, Generation X, Millennials, and Generation Z. Each generation brings their own values and mindsets to the mix. Although genetics play a part in a person’s characteristics, the generation in which someone is born into also plays an integral part in shaping their mind, values, goals, and work ethics. People from the same generation share similar experiences, and this can influence how they think politically and socially.

There are many challenges facing managers and leaders in current workforce. The variety of cultures, races and generations in today’s environment is making work harder. “Managing will also get even more difficult because of globalization, multi-generational workforce, dependency on technology, unethical behaviors and practices.” (Kaifi,2013,pg.217). In this paper I will talk about the three generations that we have had over the past sixty years – the Baby Boomer Generation, Generation X and the current Generation Y, known as Millennials. This rich mix of generations in the workforce can be attributed primarily to labor shortages experienced in many industries and the rising average age of retirement.

Go through nearly any town in America, and whether at a grocery store, gas station, or restaurant, youth (anyone ages 13-25) seem to make up the majority of the staff. These jobs are held by people’s brothers, sisters, children, and grandchildren. Albeit, the majority of elevated positions (managers and supervisors) are typically filled by people older than those underneath them. The age ranges for these higher up positions seem to be gradually decreasing as well, and from this, we see that there has been an increase in youth employment since 1990, with the most recent example occurring since 2010.

However, life has changed, globalization and feminism have had a huge impact on the work environment all around the world. Technology has also made many jobs easier, yet very, very similar. Because of these changes, unemployment has become an issue all around the globe. The government views the unemployment situation as an individual problem.  From the government’s perspective, unemployment is due to the lack of training of the individual.  However, because

A key issue with multigenerational workforces is that senior management may not recognize that the differences between generations is a problem that middle management faces and therefore may not retain the talent each brings to the team. When talent retention becomes a problem in an organization the whole organization suffers.

When governments look at policies to reduce unemployment, they tend to look at the short term and then the long term. In the short term, they need to ensure there is sufficient demand and economic growth in the economy to help control cyclical unemployment. This is done by adopting

The generations that are in the work place currently are the Silent Generation, Baby Boomers, Generation X and Generation Y. The Silent Generation were born 1930-1945, the Baby Boomers were 1946-1964, Generation X was 1965-1979 and Generation Y or the Millennials were born from 1980-2000. (Devaney, 2015). Each generation has different traits attributed to them based on the differences of the environment they were raised in and what the work force was like when they entered it. Generation grew up with Vietnam whereas Baby Boomers grew up with economic success. (Devaney, 2015). These differences nurtured different traits which worked into different working values. For example, the Baby Boomers are generally thought to be workaholics whereas Millennials

1. The aging labor force affects Human Resources by the department needs to take the time to motivate employees who are older to push themselves, start planning for retirement and manage the cost health care. In today’s society, many older people do not plan on retiring anytime soon or do not have enough money to retire. From this, some older workers are cutting down hours, working on temporary assignments, and or working from home. This allows older generations to mentor younger generations with work ethics and other aspects of the business. While this also gives the younger generations to mentor older generations with the latest technology and new ways of thinking. Human Resource management might run into different issues with the different generations such as the silent generation values job security and income. Baby Boomers value job opportunities and time management. on the other hand, Generation X is self-managed and can be pragmatic and Generation Y is good with technology and respect the hard work of older generations.

In general, research suggests that there are intergenerational differences in values and expectations of employees in the workplace. In this argument, four main parts contribute to the topic: firstly, the different generations in the workforce will be defined and explained; secondly, the differences between Generation Y and previous generations will be discussed; thirdly, the reason why managers should treat Generation Y differently will be explained; finally, key points addressing the topic will be summarised in the conclusion.

As indicated by Forbes, the normal work environment now accommodates four generational eras in one place, including Veterans (born in or before 1946), Baby Boomers (1946-1964), Generation X (1965-1979), and Millennials (1980-2000). Today, the old dog and the young pup need to work congruously to reach their end goals. These diverse generational and work perspectives can be advantageous. However, as you can imagine, such perspectives can be slightly hard to explore.

Generation Y employees are those employees born during the 1980s and early 1990s. There are actually advantages of hiring Generation Y employees. In order to imply those advantages from Generation Y to benefit the company, there are some measures which need to be carried out. On the other hand, there are also disadvantages of hiring a Generation Y employee, therefore steps have to be taken to lessen the damage or loss to the company.

The age issue has been an ongoing argument between both employers and job seekers. More and more senior workers sense that their ages are being held against them; they feel increasingly uneasy by the job market that fails to seek their true abilities. Furthermore, as the baby boom generation gradually shifting towards the retirement age, the demographic of the people in the labor force is changing. In the near future, these baby boomers would eventually has to exit the market force and leave many jobs open to be filled. Specific related issues have been considered, including the decline in human capital, lost skills, etc. With fewer people from the younger ages are involve

Aging population can be used as an advantage to increase economic rates growth by keeping them employed as long as possible (Nankervis et al. 2006, p.55). People who are working in a knowledge fields may increase their performance with age, however for more physical positions there is an opposite possibility of low performance with increasing age (Patrickson & Ranzijn, 2006). Consequently, specific jobs may have lack of professional employees. For example by separating workers and using older workers as experience type that can teach and train young employees, as well as use their knowledge will benefit organization in different departments. Also by using younger workers as routine workers or in more physical positions that are hard to perform for older employees will give them opportunity to earn more experience and will keep older employees working as well (Patrickson & Ranzijn, 2006). It is necessary for human resources to distribute their workforce accordingly and to provide required training for their young and old employees.

The aging labor force affects Human Resources by that the department needs to take the time to motivate employees who are older to push themselves, start planning for retirement and manage the cost health care. In today’s society, many older people do not plan on retiring anytime soon or do not have enough money to retire. From this, some older workers are cutting down hours, working on temporary assignments, and are working from home. This allows older generations to mentor younger generations with work ethics and other aspects of the business. While this also gives the younger generations to mentor older generations with the latest technology and new ways of thinking. Human Resource management might run into different issues with the different generations such as the silent generation values job security and income. Baby Boomers value job opportunities and time management. on the other hand, Generation X is self-managed and can be pragmatic and Generation Y is good with technology and respect the hard work of older generations.

The workforce today is employed by four generations. Each generation brings its own perspective and values to the job. The purpose of this Qualitative Research was to identify strategies that companies are using to resolve / address generational conflict in the workplace. This research was done by a Qualitative Research Method focusing on case studies. It follows a review of difference on each group generation, literature on generations in the workplace.